Presidential candidate of the Labour Party (LP), Mr. Peter Obi, has described Nigeria’s future as “bleak,” accusing the ruling All Progressives Congress (APC) of corruption and pursuing economic policies that worsen hardship, insecurity, and food crises across the country.
Speaking at a press conference to mark Nigeria’s 65th Independence anniversary in Abuja, Obi lamented that six decades after independence, Nigeria ranks among the lowest globally on human development indicators.
He alleged that the APC-led government has “suffocated citizens with brutal revenue-driven policies,” while indulging in reckless borrowing, wasteful spending, epileptic power supply, and failure to address insecurity.
“Today should be a day of joy and remembrance, a day to celebrate the struggles of our heroes who fought for Nigeria’s independence,” Obi said.
“Unfortunately, tragic failures of leadership have derailed this vision. Over the last decade, under the APC’s incompetent, divisive, and corrupt leadership, Nigeria has been greatly diminished.”
Citing economic data, Obi recalled that by 2007 Nigeria’s total debt stood at N2.5 trillion—about 10 percent of GDP—after debt forgiveness under President Olusegun Obasanjo. By 2014, he noted, Nigeria had become Africa’s largest economy and was on course to achieve middle-income status.
“Today, the picture is bleak,” he declared. “Our total debt now stands at about N175 trillion, nearly 50 percent of GDP, with no improvement in productive sectors.
“Nigeria has fallen to the fourth-largest economy in Africa, behind South Africa, Egypt, and Algeria. In just one year, this administration pushed over 15 million
Nigerians into acute poverty. More than 150 million Nigerians lack access to basic healthcare, education, water, and sanitation.”
Obi criticised what he called the government’s misplaced priorities, citing billions spent on luxury items while social services remain underfunded.
“The Vice President’s residence was renovated at N25 billion, more than the combined capital budgets of six federal teaching hospitals,” he said.
“Over N10 billion went to car parks and canteens for the National Assembly, more than the capital budget of the Ministry of Science and Technology.”
He warned that under current policies, Nigerians pay more for everything—food, rent, healthcare, electricity, passports, and petrol—while receiving less in return. He also raised alarm over worsening insecurity, rampant kidnappings, and a “terrorised” populace living in fear.
Despite the bleak outlook, Obi insisted that Nigeria’s potential for greatness remains, provided the country embraces competent and compassionate leadership.
“We must end a system where leaders feast while the people starve, where politics enriches a few and impoverishes the many. The old politics must end, and a new politics of prosperity for all must begin.”
He urged Nigerians to draw lessons from countries like China, India, Indonesia, and Bangladesh, which turned their economies around through disciplined, people-centred leadership.
“Against all odds, we will return Nigeria to the path of prosperity and justice. We will not relent. We will not be discouraged. Nigeria will rise again,” Obi assured.
He called on political leaders to set aside personal interests and embrace reforms rooted in justice, accountability, and the rule of law.
“Despite today’s challenges, the future remains bright. Happy Independence Day to all Nigerians,” he concluded.
